NuScale Power Corporation (NYSE:SMR) Stock Rated “Hold” by Wall Street Analysts

Shares of NuScale Power Corporation (NYSE:SMR) have received a consensus recommendation of “Hold” from the sixteen brokerages that are currently covering the firm, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a sell recommendation, seven have given a hold recommendation, four have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $10.67.

SMR has been the topic of several research analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of NuScale Power in a research note on Monday, September 21st. Citigroup dropped their price target on NuScale Power from $6.50 to $4.00 and set a “sell” rating for the company in a research note on Wednesday, October 21st. UBS Group cut shares of NuScale Power from a “neutral” rating to a “sell” rating and cut their price target for the company from $10.00 to $6.00 in a report on Friday, September 11th. Royal Bank Of Canada reduced their price objective on shares of NuScale Power from $14.00 to $10.00 and set a “sector perform” rating on the stock in a research report on Tuesday, August 11th. Finally, Northland Securities set a $16.00 price objective on shares of NuScale Power in a report on Thursday, August 6th.

NuScale Power Trading Down 5.2%

NuScale Power stock opened at $5.33 on Tuesday. The firm has a 50-day moving average of $7.80 and a 200-day moving average of $10.85. The firm has a market cap of $2.29 billion, a P/E ratio of -1.82 and a beta of 2.36. NuScale Power has a 1-year low of $5.20 and a 1-year high of $43.99.

NuScale Power (NYSE:SMR) last announced its quarterly earnings results on Wednesday, August 5th. The company reported ($0.13) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.13). NuScale Power had a negative return on equity of 35.59% and a negative net margin of 3,888.70%. The company had revenue of $0.07 million for the quarter, compared to the consensus estimate of $8.80 million. During the same quarter in the previous year, the business earned ($0.11) EPS. NuScale Power’s revenue was down 99.1% compared to the same quarter last year. Research analysts forecast that NuScale Power will post -0.63 earnings per share for the current fiscal year.

Insider Activity at NuScale Power

In related news, CFO Robert Hamady sold 29,880 shares of the business’s stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $9.39, for a total transaction of $280,573.20. Following the transaction, the chief financial officer owned 124,235 shares in the company, valued at $1,166,566.65. The trade was a 19.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Shinji Fujino sold 20,000 shares of the stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $8.86, for a total transaction of $177,200.00. Following the completion of the transaction, the director directly owned 17,242 shares of the company’s stock, valued at approximately $152,764.12. The trade was a 53.70% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 88,651 shares of company stock worth $791,270 over the last 90 days. 1.28% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Chicago Partners Investment Group LLC bought a new stake in NuScale Power during the 3rd quarter valued at about $131,000. Provenance Wealth Advisors LLC bought a new position in shares of NuScale Power in the third quarter worth approximately $46,000. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of NuScale Power in the third quarter worth approximately $12,785,000. D.A. Davidson & CO. lifted its stake in shares of NuScale Power by 266.2% in the third quarter. D.A. Davidson & CO. now owns 140,819 shares of the company’s stock worth $1,112,000 after buying an additional 102,360 shares in the last quarter. Finally, Victory Financial Group LLC grew its holdings in shares of NuScale Power by 20.9% during the third quarter. Victory Financial Group LLC now owns 23,756 shares of the company’s stock valued at $188,000 after buying an additional 4,106 shares during the last quarter. Institutional investors own 78.37% of the company’s stock.

About NuScale Power

NuScale Power Corporation develops small modular reactor (SMR) technology for producing electricity and other forms of low-carbon energy. The company’s core product is the NuScale Power Module, a compact pressurized-water reactor designed to be manufactured in a factory, transported to a site and deployed in scalable configurations.

NuScale markets its technology through the VOYGR power plant platform, which can combine multiple reactor modules to meet the needs of utilities, industrial users and other customers.